Elon Musk has made his decision. At approximately 9:15pm on Dec. 8, 2023, X saw two of its board members promptly resign upon the announcement of Mr. Musk possibly taking members off the board himself. These members were the Director of Marketing and Director of Operations, and upon their resignation they donated all of their stocks to the charity foundations backed by Elon Musk. In their replacement, the X corporate board added a Director of Investments in addition to a Department Chair of IT.
Furthermore, rival company Tencent has gained 10% of X’s shares in a previous transaction with Vanguard, an investment management company. Due to Tencent holding at least a 10% share within the corporation, they have earned themselves a seat at the table of X’s corporate board, one with the additional right to cast votes that can held guide the course in which things go for the corporation
Now, X struggles yet again with internal issues that could prove detrimental to the security of the board as an American corporation as well as users of X and X-Connect.
